Safe Harbor Statement for Alaska Air Group, Inc.

This statement may contain forward-looking statements subject to the safe harbor protection provided by Section 27A of the Securities
Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. These statements may relate to future events and involve known and unknown risks and
uncertainties that may cause actual outcomes to be materially different from those indicated by any forward-looking statements.
For a comprehensive discussion of potential risk factors, see Item 1A of the Company's most recent Annual Report on Form 10-K. Some of these risks include general economic conditions, increases in operating costs including
fuel, competition, labor costs and relations, our significant indebtedness, inability to meet cost reduction goals, seasonal
fluctuations in our financial results, an aircraft accident, and changes in laws and regulations. All of the forward-looking
statements are qualified in their entirety by reference to the risk factors discussed therein. We operate in a continually changing
business environment, and new risk factors emerge from time to time. Management cannot predict such new risk factors, nor
can it assess the impact, if any, of such new risk factors on our business or events described in any forward-looking statements.
We expressly disclaim any obligation to publicly update or revise any forward-looking statements after the date of this report to
conform them to actual results. Over time, our actual results, performance or achievements will likely differ from the
anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, and such
differences might be significant and materially adverse.